BNP Paribas Financial Markets Trims Holdings in The Wendy’s Company (NASDAQ:WEN)

BNP Paribas Financial Markets lessened its stake in The Wendy’s Company (NASDAQ:WEN) by 5.9% in the third quarter, Holdings Channel reports. The institutional investor owned 28,768 shares of the restaurant operator’s stock after selling 1,797 shares during the quarter. BNP Paribas Financial Markets’ holdings in Wendy’s were worth $504,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in Wendy’s during the second quarter valued at approximately $27,000. Quarry LP bought a new stake in shares of Wendy’s in the 2nd quarter valued at approximately $30,000. International Assets Investment Management LLC acquired a new stake in shares of Wendy’s during the 2nd quarter valued at approximately $33,000. Signaturefd LLC lifted its stake in Wendy’s by 94.7% during the second quarter. Signaturefd LLC now owns 2,644 shares of the restaurant operator’s stock worth $45,000 after purchasing an additional 1,286 shares during the last quarter. Finally, AM Squared Ltd acquired a new position in Wendy’s in the third quarter worth $49,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Wendy’s Stock Performance

Shares of WEN opened at $17.11 on Friday. The firm has a market capitalization of $3.49 billion, a PE ratio of 18.01, a P/E/G ratio of 2.42 and a beta of 0.77. The company has a quick ratio of 2.08, a current ratio of 2.10 and a debt-to-equity ratio of 12.64. The firm has a 50-day moving average price of $18.68 and a 200 day moving average price of $17.58. The Wendy’s Company has a 52-week low of $15.61 and a 52-week high of $20.65.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. Wendy’s had a net margin of 8.76% and a return on equity of 70.02%. The business had revenue of $566.70 million during the quarter, compared to analysts’ expectations of $560.50 million. During the same period last year, the firm posted $0.27 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts anticipate that The Wendy’s Company will post 0.99 earnings per share for the current fiscal year.

Wendy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date of this dividend is Monday, December 2nd. Wendy’s’s dividend payout ratio is presently 105.26%.

Analyst Upgrades and Downgrades

WEN has been the topic of a number of research reports. Truist Financial increased their target price on shares of Wendy’s from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen raised their target price on shares of Wendy’s from $17.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Wedbush restated a “neutral” rating and issued a $20.00 target price on shares of Wendy’s in a research note on Friday, November 1st. Stephens reiterated an “equal weight” rating and set a $19.00 price target on shares of Wendy’s in a research report on Tuesday, November 19th. Finally, Citigroup boosted their price objective on Wendy’s from $18.00 to $18.75 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wendy’s presently has a consensus rating of “Hold” and a consensus target price of $20.36.

Wendy’s Profile

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.